Brazilian ethanol prices seen rising in December

In Brazil, Reuters reports that ethanol prices are likely to jump in December as demand for the fuel increases while stronger ICE Brent Crude futures and NYMEX RBOB futures further support them. Already ethanol prices have increased more than 4% during the first week of December and prices will likely go higher as the holiday period later in the month complicates buying and logistics. With Petrobras seeking to keep domestic fuel prices in line with international levels, even with higher ethanol prices, demand will continue as fossil fuel prices are adjusted higher looking forward.